Canadian billionaire Frank Stronach arrested on alleged sexual assault and rape charges

Austrian-Canadian auto parts billionaire Frank Stronach was arrested Friday on sexual assault charges spanning decades, police said Friday.

Stronach, 91, has been charged with five crimes, including rape, indecent assault of a woman, sexual assault and false imprisonment, Peel Regional Police said. He was released on conditions and will appear in the Ontario Court of Justice in Brampton, Ont., at a later date, the police statement said.

Peel Regional Police Constable Tyler Bell said there was more than one accuser, but declined to say how many.

“This is obviously a high-profile case. Our Special Victims Unit is required to protect victims and in doing so, that is why we remain vague,” Bell said. “There is more than one victim but we will not confirm this number yet.”

An attorney for Stronach did not immediately respond to a request for comment.

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What are the charges against Frank Stronach?

Police allege the sexual assaults occurred between the 1980s and up to 2023. Bell said she is calling on people to come forward if they have information or were victims.

The billionaire founder of Magna Auto Parts also invested heavily in horse racing and made a brief foray into Austrian politics more than a decade ago. He was appointed to the Order of Canada, one of the highest honors in the country.

A Magna spokesperson said Stronach has had no affiliation with the company since she relinquished control in 2010.

“We have recently been informed of the charges against Frank Stronach,” Dave Niemiec said in an email Friday evening. “Magna has no knowledge of the investigation or the allegations that have been raised beyond what has been reported in the media.”

Niemiec said the company would not comment further on the ongoing legal matter.

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In 2018, Frank sued his daughter, two grandchildren and former business partner Alon Ossip for more than $500 million in Ontario Superior Court, alleging they mismanaged the family's assets and conspired to take control of it.

Belinda Stronach, a former Canadian MP, countersued her father, claiming in a defense statement that he lost huge sums of money on pet projects.